1 to 10 of 12 Results
Ricardo Reis, 2009, "Replication data for: A Sticky-Information General-Equilibrium Model for Policy Analysis", https://doi.org/10.7910/DVN/MUOQLO, Harvard Dataverse, V1
This paper presents a dynamic stochastic general-equilibrium model with a single friction in all markets: sticky information. In this economy, agents are inattentive because of costs of acquiring, absorbing and processing information, so that the actions of consumers, workers and firms are slow to incorporate news. This paper presents the details o... |
Ricardo Reis, 2009, "Replication data for: Optimal Monetary Policy Rules in an Estimated Sticky-Information Model", https://doi.org/10.7910/DVN/CGPZWD, Harvard Dataverse, V1
This study uses a dynamic stochastic general-equilibrium (DSGE) model with sticky information as a laboratory to study monetary policy. It characterizes the model's predictions for macro-dynamics and optimal policy at prior parameters, and then uses data on five U.S. macroeconomic series to update the parameters and provide an estimated model that... |
Ricardo Reis; Alisdair McKay, 2009, "Replication data for: The Brevity and Violence of Contractions and Expansions", https://doi.org/10.7910/DVN/B02C57, Harvard Dataverse, V1, UNF:3:JWxl6cazPSmG0bzim8h0ZA== [fileUNF]
Early studies of business cycles argued that contractions in economic activity were briefer (shorter) and more violent (rapid) than expansions. This paper systematically investigates this claim and in the process discovers a robust new business cycle fact: expansions and contractions in output are equally brief and violent but contractions in emplo... |
Dec 18, 2008
Ricardo Reis; Mark W. Watson, 2008, "Replication data for: Relative Goods' Prices and Pure Inflation", https://doi.org/10.7910/DVN/ZZCOBI, Harvard Dataverse, V1
This paper uses a dynamic factor model for the quarterly changes in consumption goods’ prices to separate them into three components: idiosyncratic relative-price changes, aggregate relative-price changes, and changes in the unit of account. The model identifies a measure of “pure” inflation: the common component in goods’ inflation rates that has... |
Dec 16, 2008
Ricardo Reis; Laurence Ball; N. Gregory Mankiw, 2008, "Replication data for: Monetary Policy for Inattentive Economies", https://doi.org/10.7910/DVN/KPIEZX, Harvard Dataverse, V1
This paper is a contribution to the analysis of optimal monetary policy. It begins with a critical assessment of the existing literature, arguing that most work is based on implausible models of inflation-output dynamics. It then suggests that this problem may be solved with some recent behavioral models, which assume that price setters are slow to... |
Dec 16, 2008
Ricardo Reis; N. Gregory Mankiw, 2008, "Replication data for: What Measure of Inflation Should a Central Bank Target?", https://doi.org/10.7910/DVN/LHEYJ2, Harvard Dataverse, V1
This paper assumes that a central bank commits itself to maintaining an inflation target and then asks what measure of the inflation rate the central bank should use if it wants to maximize economic stability. The paper first formalizes this problem and examines its microeconomic foundations. It then shows how the weight of a sector in the stabilit... |
Dec 16, 2008
Ricardo Reis, 2008, "Replication data for: A Cost-of-Living Dynamic Price Index, with an Application to Indexing Retirement Accounts", https://doi.org/10.7910/DVN/L1C8R3, Harvard Dataverse, V1
If a consumer wishes to protect her retirement account from the risk of price changes in order to sustain a stable standard of living, then what price index should the account be indexed to? This paper constructs a dynamic price index (DPI) that answers this question. Unlike the existing theory on price indices (which is static and certain), the DP... |
Dec 16, 2008
Ricardo Reis; N. Gregory Mankiw, 2008, "Replication data for: Sticky Information Versus Sticky Prices: A Proposal to Replace the New Keynesian Phillips Curve", https://doi.org/10.7910/DVN/XVW6IO, Harvard Dataverse, V1
This paper examines a model of dynamic price adjustment based on the assumption that information disseminates slowly throughout the population. Compared to the commonly used sticky-price model, this sticky-information model displays three related properties that are more consistent with accepted views about the effects of monetary policy. First, di... |
Dec 16, 2008
Ricardo Reis; N. Gregory Mankiw; Justin Wolfers, 2008, "Replication data for: Disagreement about Inflation Expectations", https://doi.org/10.7910/DVN/9OZAX2, Harvard Dataverse, V1, UNF:3:Lb3nQEWBtj1X6bSFDgboBw== [fileUNF]
Analyzing 50 years of inflation expectations data from several sources, we document substantial disagreement among both consumers and professional economists about expected future inflation. Moreover, this disagreement shows substantial variation through time, moving with inflation, the absolute value of the change in inflation, and relative price... |
Ricardo Reis, 2008, "Replication data for: Using VARs to Identify Models of Fiscal Policy: A Comment on Perotti", https://doi.org/10.7910/DVN/UBZXHE, Harvard Dataverse, V1
This note comments on Perotti's (2008) estimates of the impact of a government spending shock on the economy. In the process, it makes two points. First, it notes that with enough freedom to pick the dynamics of policy variables, the neoclassical model can generate any set of observations for the non-policy variables. Second, it proposes a method t... |
